Marathon CEO: 

“In the Louisiana Austin Chalk, our first modern completion in the over-pressured Western Fairway of the play is on flowback and cleaning up. While it is far too early to draw conclusions, the well is demonstrating strong productivity with recent oil rates of 1,200 barrels of oil per day on a restricted choke and at a flowing wellhead pressure above 8,000 psi. 

Gas/oil ratio, API gravity at around 49 degrees, and water/oil ratio are all consistent with our pre-drill expectations. Again, some encouraging early performance in contrast to some erroneous conclusions you may have seen drawn from state data featuring test rates in the first 72 hours of cleanup. 

With the early results of the first well confirming our expectations on initial productivity, oil quality, as well as reservoir energy, we recently spud our second exploration well in the play. And we'll have results to discuss later this year, as we continue to integrate longer dated production with 3D seismic.”

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Thanks,DJ.  Found this of some interest.

"Again, some encouraging early performance in contrast to some erroneous conclusions you may have seen drawn from state data featuring test rates in the first 72 hours of cleanup."

Makes me wonder if he was referring to this.

"Monday, February 3, 2020

Marathon Crowell #2 Result

The Marathon Crowell #2 completion result is about where I forecasted based on the offset production.  

COMPLETED 1/21/2020 AS AN OIL WELL W/ 210 BOPD; 1650 MCFD; 8200 FTP; 6063 SITP; 1300 CP; 18/64" CK; 3343 BWPD; 94% BS&W; 7857; GVTY 52 API; PERF: 16,157'-22,372'

At these production rates, it's impossible to have positive economics at these DHC/CC costs.  At $1.82/mcf gas, natural gas is a tough place to be.  The gas-oil ratio is much higher than the wells on strike.  The API gravity at 52 is quite a bit higher than the adjacent well to the north (47).  The water cut, as forecasted, is very high.  This will be important to observe over the months to come."

"At these production rates, it's impossible to have positive economics at these DHC/CC costs."

That is a direct quote from the Feb. 3 edition of the Tuscaloosa Trend blog.

The first quote, "Again, some encouraging early performance in contrast to some erroneous conclusions you may have seen drawn from state data featuring test rates in the first 72 hours of cleanup."  Is also from the blog on Feb. 12.

http://ameliaresources.com/blog/

 

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